Month: May 2019

Dr. Vasant Narasimhan, CEO of Novartis, speaking at the Healthy Returns conference in New York City on May 21, 2019. Astrid Stawiarz | CNBC The Food and Drug Administration on Friday approved Novartis‘ $2.13 million gene therapy for spinal muscular atrophy, sending the company’s shares traded in the U.S. 4% higher in midday trading. The

A trader takes an order in the Standard & Poor’s 500 stock index options pit at the Chicago Board Options Exchange following the Federal Open Market Committee meeting on January 25, 2012 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Buybacks have gotten a bad rap from both Republican and Democratic

Khoshbin fueling up his Agera RS Phoenix @mannykhoshbin on Instagram When California real estate investor Manny Khoshbin spent $2.2 million on the fastest street-legal car in the world, he had no idea it would also become the fastest-appreciating asset he’d ever own. “Quickest $1.9 million I ever made,” Khoshbin told CNBC. Khoshbin is an Instagram

Bukharova | Getty Images One Wall Street strategist is warning that three factors could trigger the stock market’s next sell-off before the end of May and push the major indexes to lows as the summer season gets under way. The combination of mounting recession fears, bets on a more cautious Federal Reserve and a regular

Mega Millions Jackpot estimated at $540 million dollars. Getty Images The Mega Millions jackpot has spilled over $400 million and would be the ninth largest winning since the game began in 2002. With no one hitting the right numbers Friday night, the next drawing on Tuesday is at $418 million. The top prize has been

For many seniors who are losing independence, the dilemma of how to manage looms. Millions of people over the age of 65 have barely enough to take care of living expenses for a few years, much less for a long retirement. What happens when your aging parent is one of them and she shows signs

Credit: Getty Royalty Free Getty If you own a small business with just a handful of employees, and are worried about saving enough for retirement, here’s an idea: start an old-fashioned defined benefit plan for your company. Sure, sure, everyone knows the defined benefit plans (a.k.a., DB plans) are passé, the creatures of large corporations,

Elon Musk Jim Watson | AFP | Getty Images SpaceX has raised just over $1 billion in financing since the beginning of the year, a filing seen by CNBC revealed on Friday, as the company seeks backing for its daunting plan to provide internet from a network of thousands of small satellites. The funds are

Michael Novogratz, CEO of Galaxy Investment Partners Adam Jeffery | CNBC Macro trader turned bitcoin bull Michael Novogratz is calling for fixes to capitalism — and a possible tax on Wall Street. The former Fortress hedge-fund manager pointed to a rising income gap and lack of investment in public education in the United States. One

Investment banker Ken Moelis told CNBC on Friday that it’s “almost impossible” to get the boards of U.S. public companies to enter into China deals. The tense Washington-Beijing relations are impacting large-cap stocks, the deal-making powerbroker said on “Squawk on the Street. ” “What you’re seeing in this volatility is a macro risk: China trade

Is fear getting in your way when it comes to saving and investing? If so, you aren’t alone, according to Akbar Gbajabiamila, co-host of NBC’s “American Ninja Warrior.” And there is a way to overcome it, he said. “My No. 1 strategy for overcoming fear is purpose,” said Gbajabiamila, who also once played football for

What a difference a month makes! Just weeks ago the investment horizon looked clear for light years, stock were roaring, the global economy glistened with a golden-age-aura, and all seemed well with the financial world. The sanguine outlook hinged on three critical linchpins: The US Fed’s late 2018 reversal on interest rate policy, switching from

Low-Tax States Are Now Adding Jobs 80% Faster Than High-Tax States Texas Public Policy Foundation Job growth has been running 80% stronger in low-tax states than in high-tax states since the passage of the Tax Cuts and Jobs Act of 2017 in December 2017. Understanding why holds important lessons for policy, economics, and politics. The

Arbor Eighteen is a luxe new condominium building emblematic of the rediscovered Greenwood Heights neighborhood Redundant Pixel Millennials are finally ready to begin buying in New York City. The evidence: All that’s happening in the Brooklyn enclave of Greenwood Heights. Younger New Yorkers’ quest for an accessibly-priced lifestyle, in a nook with easy subway access,

Ryan Graves was Uber’s first full-time CEO and employee, who was last senior vice president of global operations before announcing he would step down in August 2017. Graves said at that time he would remain on the board during the search for the replacement of his CEO successor, Travis Kalanick. Uber Uber said in a

A shopper checks on merchandise at the J.C. Penney department store in North Riverside, Illinois. Kamil Krzaczynski | Reuters For department stores, there may be no time left for subtlety. It is time for reinvention. A slew of retail earnings the past two weeks makes clear that while Americans continue to shop, they increasingly aren’t

Traders work on the floor at the New York Stock Exchange May 7, 2019. Brendan McDermid | Reuters Trade headlines could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and moves in the bond market, which is flashing new worries about the economy.

Daniel Loeb Simon Dawson | Bloomberg | Getty Images Daniel Loeb’s Third Point has built a stake in Centene as the health insurer works to complete its previously announced purchase of WellCare Health Plans. While the activist hedge fund confirmed on Friday that it has a financial position in Centene, neither the reason for its

Science Photo Library / Getty Images You don’t need a million dollars to live a glamorous retirement, so long as you’re willing to leave the U.S. behind. “Most people assume that a high-flying existence like that is the purview of the rich and famous alone,” said Jennifer Stevens, the executive editor of International Living. They’re